Homversity raises $1 million funding in pre-Series A round from IPV, others

Homversity has raised $1 million from Shuru-Up, IPV (Inflection Point Ventures), Value Angels, Vinners Group, TAS, Pro-Growth Ventures, Growth 91, and other investors in series A round of funding. 

This fund will be used to establish the model of Homversity's premium scalable student housing operator and to grow its user base, the company said in a release.

The investment will also support growth initiatives to enhance the reach of the platform and to improve its offerings for students across India.

Homversity which was started back in 2019, claims to be India's largest student housing network. With the aim to connect students with secure and convenient accommodation options, Saurav Kumar Sinha, the founder & CEO of Homversity started this platform to help students with hassle-free accommodation nationwide.

He studied management at IBM with a passion for innovation which helped him establish Homversity later. 

According to co-founder of Inflection Point Venture, Ankur Mittal, students moving from rural areas to metropolitan cities for better education opportunities often face cultural shock in terms of costs of food, living, and transportation.

Therefore, Homversity is looking to address two of these key problems by providing a high standard of living and healthy meals, whether students come from rural areas or any other urban centres.

Solving these issues can help students focus on education, networking, and personal growth without worrying about these basic necessities.